The EUR/GBP followed the markets today, trading at 0.7988. As markets climbed in early trading as investors sentiment was on a positive note.

The market sentiments are likely to remain subdued in wake of Memorial Day holiday for the U.S markets. However, opinion polls in Greece hinted that the pro-bailout New Democracy party is leading the exit polls, much to the delight of investors. This week will see the release of heavyweight economic data, with the most important ones to look for would be the U.S consumer confidence, manufacturing,

GDP and Payrolls data. Any incongruity in these data could have a significant bearing on the commodity price movements.

With Chinese economy going through a rough patch, all eyes are glued to the government manufacturing figures schedule for release on Friday. After a series of muddled job numbers off-late from the U.S, financial markets would be anticipating strong assuring numbers from this week’s Nonfarm Payrolls data, which is projected to show companies in the U.S adding 150K more jobs in May. Looking ahead, European investor sentiments are prone to set the tone for this week amid political bedlam in Greece and rising debt contagion in the region.

By mid day, worries over Spain’s banking system, turned sentiment negative to see the Dollar Index climb and the euro and its partners move back to close to the opening levels.

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